Study: Long-term smokers in Kentucky will spend nearly $2M over their lifetime
LOUISVILLE, Ky. (WAVE) - During a time when millions of people are trying to survive a global pandemic and make ends meet, Kentuckians are spending astronomical amounts of money on smoking.
Smokers have a higher risk of developing severe symptoms from COVID-19, but that’s not stopping people from lighting up.
Since 1964, more than 20 million people have died from smoking-related illnesses, 2.5 million of those were nonsmokers who died from diseases associated with secondhand smoke.
Not only is smoking a deadly habit, it’s an expensive one.
The personal-finance website WalletHub released a new report that ranked The Real Cost of Smoking by State, which included how much money a person spends on smoking per year, during their lifetime and total healthcare costs.
In Kentucky, smokers will spend $36,740 a year, on average, to get their fix.
Long-term smokers in Kentucky will spend nearly $2,000,000 over their lifetime.
WalletHub released the following numbers:
The Financial Cost of Smoking in Kentucky (1=Lowest, 25=Avg.):
- Out-of-Pocket Cost per Smoker – $98,112 (Rank: 11th)
- Financial-Opportunity Cost per Smoker – $1,093,824 (Rank: 11th)
- Health-Care Cost per Smoker – $110,280 (Rank: 1st)
- Income Loss per Smoker – $451,829 (Rank: 7th)
- Other Costs per Smoker – $9,459 (Rank: 3rd)
- Total Cost Over Lifetime per Smoker: $1,763,504
- Total Cost per Year per Smoker: $36,740
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